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Katahdin Bankshares Corp. Reports Third Quarter Results

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Katahdin Bankshares Corp. (OTCQX: KTHN) reported third-quarter earnings of $2.66 million, or $0.81 per share. For the first nine months, net income reached $7.53 million, a 22.1% increase from 2020. Total assets as of September 30, 2021, stood at $945.5 million. CEO Jon J. Prescott highlighted strong asset quality and the bank's recognition as one of the Best Places to Work in Maine for the fourth consecutive year. The bank, serving northern Maine and surrounding regions, continues to demonstrate solid financial performance.

Positive
  • Third-quarter earnings: $2.66 million, $0.81 per share.
  • Net income for the first nine months: $7.53 million, up 22.1% from 2020.
  • Total assets: $945.5 million as of September 30, 2021.
  • Recognized as one of the Best Places to Work in Maine for four consecutive years.
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  • None.

HOULTON, Maine, Oct. 20, 2021 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX: KTHN), parent company of Katahdin Trust Company, a community bank founded in 1918 serving northern Maine and the greater Bangor and Portland regions, has announced third-quarter earnings of $2.66 million, or $0.81 per common share.

Net income for the first nine months reached $7.53 million, exceeding 2020 by 22.1%. Total Assets equaled $945.5 million as of September 30, 2021.

"Our financial results have remained solid, and our strong asset quality continues," said Jon J. Prescott, Katahdin Trust President and CEO. "In addition, I am pleased to share that we were recently named as one of the 2021 Best Places to Work in Maine. This marks the fourth consecutive year we have received this recognition."

For more information and to view a copy of our most recent quarterly financial report, visit KatahdinTrust.com/Shareholder-Relations.

About Katahdin Bankshares Corp.

Katahdin Bankshares Corp. is the bank holding company of Katahdin Trust Company. Founded in 1918, Katahdin Trust is a community bank based in Houlton, Maine with more than $945 million in assets and 16 banking offices that serve Aroostook, Penobscot, and Cumberland counties. The Bank has nearly 180 employees and, in 2021, was named one of the Best Places to Work in Maine for the fourth year in a row and recognized the past two years as one of the Top 200 Community Banks in the country by American Banker magazine. Katahdin Bankshares Corp. common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN. Learn more about the Company and its subsidiary bank at www.katahdintrust.com and follow Katahdin Trust on Facebook, Twitter, LinkedIn, and Instagram.

Cision View original content:https://www.prnewswire.com/news-releases/katahdin-bankshares-corp-reports-third-quarter-results-301404962.html

SOURCE Katahdin Bankshares Corp.

FAQ

What were Katahdin Bankshares Corp.'s third-quarter earnings for 2021?

Katahdin Bankshares Corp. reported third-quarter earnings of $2.66 million, or $0.81 per share.

How much did net income increase for Katahdin Bankshares in 2021?

Net income for the first nine months of 2021 reached $7.53 million, a 22.1% increase compared to 2020.

What are the total assets of Katahdin Bankshares Corp. as of September 30, 2021?

As of September 30, 2021, total assets of Katahdin Bankshares Corp. were $945.5 million.

Has Katahdin Bankshares Corp. received any workplace recognition in 2021?

Yes, Katahdin Bankshares Corp. was named one of the Best Places to Work in Maine for the fourth consecutive year in 2021.

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